Community Development

2010

July 15, 2010

Richmond Fed and Opportunity Finance Network Hold CDFI Meeting

Richmond, Va.

The Federal Reserve Bank of Richmond and the Opportunity Finance Network will host the 2010 Opportunity Finance Network Southeast Regional Meeting on July 19 and 20 in Richmond. The one and one-half-day meeting will offer OFN members, emerging community development financial institutions, funders, investors and other stakeholders the chance to engage in an important regional collaboration and training opportunity in the Southeast.

The purpose of the meeting is to bring together CDFI stakeholders to discuss CDFI expansion and collaboration opportunities in the Southeast. OFN President and CEO Mark Pinsky will discuss the current state of the community development finance industry and participants will engage in dialogue about regional CDFI collaboration, capitalization and the regional economy. Breakout sessions will also be offered on how to apply for CDFI Fund certification, small business underwriting and affordable housing underwriting.

Community development financial institutions provide alternative access to capital, credit and financial services for low- and moderate- income communities that are underserved by traditional financial institutions.

The meeting will be held at the Federal Reserve Bank of Richmond, starting at 9 a.m. on July 19. Support for this meeting is provided by the Citi Foundation and the Mary Reynolds Babcock Foundation.

The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.